After yesterday’s crash in the entire mining sector where everything exploded for various reasons, today we know that what was to come is going to happen sooner than expected. ASUS has confirmed the inevitable: the demand for gaming graphics cards is falling among miners and in fact, the second-hand market is on the rise because they are selling their GPUs everywhere. What is going to happen?
Finally and after a long drought it seems that there is an end to the problem of graphics cards for gamers. In fact, the unprecedented crash of cryptocurrencies yesterday is making many rethink things in view of the inflationary bubble and the possible recession in which we are going to be involved if everything continues like this.
ASUS is optimistic: the demand for graphics cards has dropped
It was the company’s co-executive director, SY Hsu, who made a fairly accurate and somewhat catastrophic comment after presenting the company’s earnings data for this quarter. He was asked by a journalist about how the graphics card market is doing and what is expected of it. The answer is quite Solomonic:
“As the demand for cryptocurrency mining in GPU shipments has slowly declined , the demand for graphics cards across the market is normalizing”
In addition to these statements, he said that cryptocurrency mining with GPU was in the doldrums due to the passage of Ethereum to the new work mode, but… This is perhaps an understatement.
Given this data from yesterday and after the Coinbase controversy, it was to be expected that panic would spread throughout the Internet, where in forums like Reddit there have been really serious cases with desperate people commenting, where moderators have had to intervene and facilitate the “phone of hope”.
The GPU market has exploded
And it is literally like that, it has exploded. Apparently NVIDIA has such a stock of graphics cards that it is really worrying and what has been experienced with the launch of the RTX 30 and RTX 20 on the shelves may know little. AMD has released an (unconfirmed) game bundle to try to boost sales of the RX 6000, but both companies seem to be running into something unusual: the second-hand market teeming with GPUs.
Miners are flooding forums and second-hand websites with increasingly falling prices knowing that the good is over, and also, the RTX 40 and RX 7000 are just around the corner, so everything is complicated .
For this reason, in the US and according to reports, graphics cards already cost in many cases less than the MSRP, since in that country this market is even more competitive at the moment. How are they going to sell the new graphics if the second-hand market is offering really competitive prices and the new models are about to see the light?
Therefore, the opinions from ASUS seem to fall far short of the scenario that is presented to us.